I understand that there is a multi-year project underway to improve clearing times for ACH transfers. I have also heard that one of the milestones was recently achieved in speeding up the transfers.

But I have not noticed any difference. In fact, I have done some recent ACH transfers between banks and they seemed slower than usual...often taking 3 business days when in the past they rarely took more than two. Some of the transfers weren't credited to my account until 6 days after the debit appeared in the other account. These were transfers that were done on a Wednesday prior to a holiday weekend. So instead of being credited to the account on that Thursday or Friday, I lost the interest for three extra days over the weekend in addition to these two following business days.

What gives? Are customers of banks supposed to be getting less float time on their ACH transfers now or not?

Ryan641 said: I understand that there is a multi-year project underway to improve clearing times for ACH transfers. I have also heard that one of the milestones was recently achieved in speeding up the transfers.

But I have not noticed any difference. In fact, I have done some recent ACH transfers between banks and they seemed slower than usual...often taking 3 business days when in the past they rarely took more than two. Some of the transfers weren't credited to my account until 6 days after the debit appeared in the other account. These were transfers that were done on a Wednesday prior to a holiday weekend. So instead of being credited to the account on that Thursday or Friday, I lost the interest for three extra days over the weekend in addition to these two following business days.

What gives? Are customers of banks supposed to be getting less float time on their ACH transfers now or not?

Same-day ACH isn't really a speed up of "traditional" ACH, but a new product. The milestone was a launch of same-day ACH for CREDITS ONLY. All ACH participants are required to accept same-day ACH credits, but are not required to offer to send the same-day product. Additionally, institutions will charge a fee for same-day ACHs. You won't notice any difference unless you are offered the option to push a same-day ACH because the "traditional" ACH hasn't been changed at all. All pulls will still move through the slow method until same-day ACh is launched for debit entries as well.

I have done ACH from Fidelity Investments, Wells Fargo, Pinnacle Bank, and Santander Bank. All have been three business days with very few exceptions of two business days. Nothing longer than three business days being credited in my receiving bank account.

JW10 said: I have done ACH from Fidelity Investments, Wells Fargo, Pinnacle Bank, and Santander Bank. All have been three business days with very few exceptions of two business days. Nothing longer than three business days being credited in my receiving bank account.Alliant Credit Union has been doing overnight ACH for years. Three day ACH is unacceptable.

When it comes to ACH, I offer this tip:

Ask your financial institution with which ACH solution provider they do business. If the answer is "CashEdge", RUN AWAY! Run far, far away.

billcard said: Ryan641 said: I understand that there is a multi-year project underway to improve clearing times for ACH transfers. I have also heard that one of the milestones was recently achieved in speeding up the transfers.

But I have not noticed any difference. In fact, I have done some recent ACH transfers between banks and they seemed slower than usual...often taking 3 business days when in the past they rarely took more than two. Some of the transfers weren't credited to my account until 6 days after the debit appeared in the other account. These were transfers that were done on a Wednesday prior to a holiday weekend. So instead of being credited to the account on that Thursday or Friday, I lost the interest for three extra days over the weekend in addition to these two following business days.

What gives? Are customers of banks supposed to be getting less float time on their ACH transfers now or not?

Same-day ACH isn't really a speed up of "traditional" ACH, but a new product. The milestone was a launch of same-day ACH for CREDITS ONLY. All ACH participants are required to accept same-day ACH credits, but are not required to offer to send the same-day product. Additionally, institutions will charge a fee for same-day ACHs. You won't notice any difference unless you are offered the option to push a same-day ACH because the "traditional" ACH hasn't been changed at all. All pulls will still move through the slow method until same-day ACh is launched for debit entries as well.

1. So an ACH transfer that pushes funds from the internal account to the external account is an ACH "credit?"

2. So when you PUSH ACH funds now, does that mean all external banks in the transaction (or at least most) show the same day? If it doesn't mean that what has changed?

3. My recollection isn't clear, but somehow I thought the latest milestone referred to "debits" rather than credits. I'm too lazy to look it up. I want to be sure we are clear which term is associated with push and which with pull. I assume my #1 above which repeats what you wrote is correct. Push is a credit ACH. Pull is a debit ACH. In other words the "credit" or "debit" refers to the transaction from the customers perspective in the external institution. Someone please correct if that's not right.

rufflesinc said: oh the flip side, when you pay your credit card by ACH, your payment is credited immediately but you have a few days float on your bank acct

Not much. For me it's almost always debited from my account one day after it is due. And of course the amounts involved for me are trivial compared to the amounts I send by ACH. I'd settle for one day on my ACH transactions between banks. But up to 6 days is ridiculous.

Ryan641 said: billcard said: Ryan641 said: I understand that there is a multi-year project underway to improve clearing times for ACH transfers. I have also heard that one of the milestones was recently achieved in speeding up the transfers.

But I have not noticed any difference. In fact, I have done some recent ACH transfers between banks and they seemed slower than usual...often taking 3 business days when in the past they rarely took more than two. Some of the transfers weren't credited to my account until 6 days after the debit appeared in the other account. These were transfers that were done on a Wednesday prior to a holiday weekend. So instead of being credited to the account on that Thursday or Friday, I lost the interest for three extra days over the weekend in addition to these two following business days.

What gives? Are customers of banks supposed to be getting less float time on their ACH transfers now or not?

Same-day ACH isn't really a speed up of "traditional" ACH, but a new product. The milestone was a launch of same-day ACH for CREDITS ONLY. All ACH participants are required to accept same-day ACH credits, but are not required to offer to send the same-day product. Additionally, institutions will charge a fee for same-day ACHs. You won't notice any difference unless you are offered the option to push a same-day ACH because the "traditional" ACH hasn't been changed at all. All pulls will still move through the slow method until same-day ACh is launched for debit entries as well.

1. So an ACH transfer that pushes funds from the internal account to the external account is an ACH "credit?"

2. So when you PUSH ACH funds now, does that mean all external banks in the transaction (or at least most) show the same day? If it doesn't mean that what has changed?

3. My recollection isn't clear, but somehow I thought the latest milestone referred to "debits" rather than credits. I'm too lazy to look it up. I want to be sure we are clear which term is associated with push and which with pull. I assume my #1 above which repeats what you wrote is correct. Push is a credit ACH. Pull is a debit ACH. In other words the "credit" or "debit" refers to the transaction from the customers perspective in the external institution. Someone please correct if that's not right. 1. Correct, a send transaction is a credit.

​2. No, it will not automatically show same day. If the bank you are sending from offers same-day ACH, they will offer that speed to you (most likely for a fee). All receiving institutions must accept same day ACH, so it doesn't matter if they participate in same-day sends.

​3. No debit milestones have been hit yet. You are correct, only the push can be done same-day ACH. Pulls are later in the roadmap and will most likely involve a fee as well.

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